Contactless Payments for ICBA Bancard Clients

Contactless (dual-interface) acceptance has passed a tipping point in the U.S. as more than half of all card-present transactions now take place at contactless-enabled locations, with the majority occurring in everyday spend categories.

ICBA Bancard has compiled the below resources to educate your bank and market this product to your cardholders.

Bancard Additional Services
Contactless Payment

Contactless is Fast, Easy, and Secure

Now is the time to contact your processor about contactless payment and learn how to get started and plan ahead. For additional turnkey resources, visit Visa and MasterCard.

Visa Resources

MasterCard Resources

Payments Yellow

Why Tap to Pay is preferred by merchants and customers

Contactless transactions are growing now more than ever, and consumer demand is increasing. See recommendations to encourage contactless payments and create a clean payment experience.

Download the infographic

Contactless reinventing how people pay

Contactless is reinventing the way people pay

Contactless is a faster, easier and more secure way to pay. Visa has published a recent white paper about the global status of contactless, case studies and the benefits it brings.

Read the whitepaper

Contactless FAQ

For community banks who are considering offering contactless payments in the near future, we answer some general questions. Reference: US Payments Forum.

A. A contactless payment card has an NFC antenna embedded in the plastic which securely enables close-range payments. Customers need only tap their contactless card at a checkout terminal near the Contactless Symbol and the payment is sent for authorization.

A. The card need be no more than 1-2 inches (about 4 cm) from the Contactless Symbol on the checkout terminal.

A. Yes. Each transaction is accompanied by a one-time code securely protecting a cardholder’s payment information just like with a chip card. Customers also can’t pay accidentally. Their card must be within1-2 inches of the contact-less enabled terminal for the transaction to occur (Cardholders will not be billed twice even if they accidentally tap twice). Additionally, while skimming is possible a fraudster must be less than 4 cm away from a contactless card to skim.

A. Issuers should first determine when their existing EMV stock is set to expire (all your cards issued on the current chip will continue to function until the expiration date on the plastic).

You should next work with your processor to find a solution and identify any best practices that will minimize time, cost, and complexity to ensure a smooth process and minimize any inventory management challenges during the transition.

And, although the cost of contactless cards is dropping, realistic spend lift is required to offset investment so issuers may consider creating a reissue strategy that factors in cardholder spend.